This Contract Retention Policy is essential for organizations operating in the UAE to ensure compliance with local legal requirements for document retention and management. The policy becomes necessary when organizations need to standardize their approach to maintaining contracts and related documents, particularly in light of UAE Federal Law No. 18 of 1993 requiring minimum retention periods of 5 years for commercial records, and UAE Federal Law No. 1 of 2006 governing electronic records. The Contract Retention Policy addresses both physical and digital documentation, incorporating specific industry requirements where applicable, and ensuring alignment with UAE data protection regulations. It serves as a crucial governance tool for organizations to manage their contractual obligations, maintain legal compliance, and mitigate risks associated with improper document retention or destruction.
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1. Purpose and Scope: Defines the objective of the policy and its application scope within the organization
2. Definitions: Defines key terms used throughout the policy including types of documents, retention periods, and storage methods
3. Legal Framework: Lists applicable UAE laws and regulations governing document retention
4. Roles and Responsibilities: Defines who is responsible for document retention, maintenance, and destruction
5. Document Classification: Categories of documents and their retention requirements
6. Retention Periods: Specific retention timeframes for different document types based on UAE law requirements
7. Storage and Security: Requirements for secure storage of both physical and electronic documents
8. Document Destruction: Procedures for secure destruction of documents after retention period expires
9. Compliance and Audit: Procedures for ensuring compliance with the policy and conducting regular audits
10. Policy Review and Updates: Process for regular review and updating of the policy
1. International Operations: Additional requirements for organizations operating across multiple jurisdictions
2. Industry-Specific Requirements: Special retention requirements for specific industries (e.g., healthcare, financial services)
3. Electronic Document Management: Detailed procedures for managing electronic documents and emails
4. Legal Hold Procedures: Process for suspending normal retention periods during litigation or investigations
5. Data Protection and Privacy: Special considerations for documents containing personal data under UAE data protection laws
6. Business Continuity: Procedures for protecting and recovering documents in case of disasters
1. Schedule A - Retention Period Matrix: Detailed matrix of document types and their specific retention periods
2. Schedule B - Document Classification Guide: Guide for classifying documents into different categories
3. Schedule C - Destruction Log Template: Template for recording document destruction details
4. Schedule D - Compliance Checklist: Checklist for ensuring compliance with retention requirements
5. Appendix 1 - Legal References: Detailed references to relevant UAE laws and regulations
6. Appendix 2 - Forms and Templates: Standard forms for document management processes
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